Link Securities | The Spanish oil company has cancelled the sale of its Norwegian business, so the firm discards an operation that was valued at approximately $1,000 million after six months looking for a buyer, according to Reuters. The sources consulted by the British agency assure that the firm is now focused on selling other assets, while it plans to merge its operations in the North Sea with NEO Energy….
CdM | The inflation rate in the euro area stood at 2.6% year-on-year in July, one tenth of a percentage point higher than the rise in prices observed in June. Moreover, as confirmed by the EU statistics office, Eurostat, in the EU as a whole the rate has risen to 2.8%, two tenths of a percentage point more than in June. The acceleration in price increases in the euro area…
Link Securities | As part of the conclusions of the European investigation into China’s anti-competitive subsidies, the European Commission (EC) has revised tariffs on Chinese car imports downwards, after gaining a clearer picture of the support enjoyed by China’s car industry, according to Expansión newspaper on Tuesday. In this sense, the EC said yesterday that it considers that Chinese manufacturers enjoy an “unfair” advantage because of the subsidies they receive…
Link Securities | Iberdrola (IBE) has been included for another year in the prestigious FTSE4Good international index, designed to facilitate investments in the world’s most sustainable companies, using ESG (environment, sustainability and governance) criteria as a benchmark, the company announced yesterday. IBE has met the requirements of the committee in charge of deciding the members of the index. In this way, it complies with an increasingly demanding methodology that includes…
Banc Sabadell : The company’s CEO reportedly said that the company had intensified its contacts with the Medina – Mecca consortium with the aim of manufacturing and supplying 20 high-speed trains, according to press reports. According to these sources, the company and the consortium have not reached an agreement on the final price of the trains, since the costs have risen substantially from the €35 million per unit that had…
Bankinter: The leading Indicator deteriorated more than expected in July (-0.6% month-on-month from -0.2% previously and -0.4% expected). The Leading Indicator fell by – 0.6% (month-on-month) in July; in year-on-year terms -5.2%, which broke with the slight trend of improvement of the last six months. From a historical perspective, the indicator registers the lowest level since November 2016 (one tenth below April 2020). By components, the improvement in Consumer Orders…
Link Securities | Técnicas Reunidas (TRE) has announced that it has successfully developed proprietary technologies in two areas that are currently of great strategic and geopolitical importance: critical raw materials and rare earths, according to the Bolsamanía portal. In addition, TRE has other proprietary technological developments in fields that are fundamental to the energy transition, such as carbon capture, green hydrogen production, the circular economy and biorefining. The company carries…
Link Securities | According to Eurostat data, the Eurozone’s trade surplus rose to €22.3 billion in June, exceeding analysts’ consensus forecast of €13.3 billion and also surpassing the €18 billion surplus in the same month last year. Imports decreased by 8.6% year-on-year to €214 billion, mainly due to lower purchases of manufactured goods (-11.0%); transport equipment and machinery (-11.0%); mineral fuels, lubricants and related products (-9.1%); and chemicals (-6.8%). Meanwhile,…
Renta 4: European stock markets point to a new upward opening (EuroStoxx futures +0.27%) to end the weekly session in positive territory . On the bond market, in the US, the 2-year IRR rose more than 14 bps to 4.11%, while the 10-year rose c.+9 bps to 3.91% (3.90 this morning). In Europe, we also witnessed a rebound in IRRs, on average +6 bps, with the T-Bund at c. 2.25%…
CdM | In July, the fall in electricity prices caused inflation to drop six tenths of a percentage point, with the Consumer Price Index (CPI) falling to 2.8%, according to the final data published by the National Statistics Institute (INE). The moderation in food prices also contributed. The CPI is thus at its lowest level since February and has now fallen for two consecutive months after the rises recorded in…